On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $31,000 and $500, respectively. During the year Kincaid reported $72,500 of credit sales. Kincaid wrote off $550 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $74,550. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to:
A. $28,400.
B. $28,950.
C. $29,075.
D. $27,725.
Answer: D
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Which of the following statements about coverage for loss of use (Coverage D) under the Homeowners 3 policy is true?
A) If a covered loss makes the home unfit for living, the insurer pays additional living expenses the insured may incur as a result of the loss. B) The duration of payments for additional living expenses is limited to a maximum of 30 days. C) There is no coverage for loss of rent if an insured peril makes the part of the premises rented to others uninhabitable. D) There is coverage for loss of business income if an insured peril forces a home business to be terminated.
Valdez Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (6,000 units)$240,000Variable expenses 180,000Contribution margin 60,000Fixed expenses 54,000Net operating income$6,000The number of units that must be sold to achieve a target profit of $24,000 is closest to:
A. 24,000 units B. 13,800 units C. 7,800 units D. 30,000 units
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Which of the following factors leads to excessive bargaining in a supply chain?
A. Supply chain members of more or less equal standing B. A recognized leader exercising power C. Alignment of interests between members of the supply chain D. Flexibility in a supply chain